ASTANA, Kazakhstan, September 4. Loans issued by Kazakh banks to legal entities decreased by 1.7 percent to 8.6 trillion tenge (about $18.8 billion) in July 2023, Trend reports.
The data of the Agency of the Republic of Kazakhstan for regulation and development of the financial market shows that since the beginning of 2023, the decrease has been 0.4 percent.
Total loans to business entities, including individual entrepreneurs, decreased in July 2023 by 1.1 percent to 9.9 trillion tenge, or about $21.6 billion (from the beginning of 2023, an increase of 2.9 percent).
Loans to SMEs decreased slightly by 0.02 percent to 6.4 trillion tenge, or about $14 billion (from the beginning of 2023, an increase of 6.9 percent), while loans to large businesses decreased by 3 percent to 3.5 trillion tenge, or about $7.6 billion (from the beginning of 2023, a decrease of 3.7 percent).
As of August 1, 2023, the banking sector of the Republic of Kazakhstan is represented by 21 second-tier banks, of which 11 are banks with foreign participation, including 8 subsidiary banks.